Reaching Triple Digit Sales.

Sales recap

July’s performance has pushed our sales results well into triple digit territory, with over 100 sales for the year as the second half of 2023 promises great things ahead.

People looking to buy in the Inner West are still demonstrating insatiable demand, with entry level homes lasting very little time on the market, while more high end homes rightfully take their time to connect with the right buyer. We’re witnessing a continuum of exceptional prices that haven’t budged backwards an inch, and some of our standout results this month are:

• 28 Iandra Street, Concord West selling for a street record for $3.8M
• 382 Great North Road, Abbotsford a duplex selling for $3.5M
• 90 Correys Avenue, Concord selling off-market for $2.25M

Property management recap

Our agency is proud to welcome James Pirrello to the team as our new Leasing Executive & Business Development Manager. A networking extraordinaire and Concord local, we knew James was the perfect fit for our culture the minute he walked through our doors, and we’re certain it won’t be long before you will meet him.

With National Property Manager’s Day on 21 July, it’s important that we continue to recognise the stellar efforts of our team - Samantha, Natalie, and James - and all the work they put in year after year. The challenges of property management can be difficult, particularly with the pressure felt with this year’s rental crisis. The team has consistently balanced the needs of our tenants and landlords with grace, kindness, and fairness that really represents the degree of excellence we aim to instill daily, all while finding new homes for new tenants, and keeping ahead of a rental market that continues shifting its goal posts.

As we edge into the second half of the year and the beginning of a new financial year, we can expect some fresh changes in the market. Let’s take a took at the positive movements on the record:

Inflation and interest rates

As inflation moved past its peak, it’s likely the RBA is getting closer to the end of rate hikes, with the latest decision to keep interest rates on hold. 

Consumer Price Index rises slowed over the June quarter, with newly released data showing the 0.8% quarterly rise has been the lowest since September 2021.

Each of the major banks is now forecasting a reduction in the cash rate through 2024.

Property prices

Low stock levels continue to collide with potent demand, making for an extremely resilient market that has dodged the impact of 12 interest rate rises.

Sydney house prices have rebounded by 6.7 per cent since bottoming out in January. Our city has led the national price climb, with a 4.9 per cent rise in the past three months.

The momentum eased slightly over June, with Sydney recording a 1.7 per cent rise.